Menkes acquires Foresters office tower, dev. land in Toronto

RENX  Commercial  •  Office  •  Toronto / GTA

Menkes has acquired a 5.1-acre site with a 386,523-square-foot office building, owned and largely occupied by Foresters Financial, which has strong redevelopment potential. The property at 789-793 Don Mills Rd. and 10 Ferrand Dr. in Toronto sold for $91.25-million.

Walmart to open 430K-sq.-ft. fulfillment centre near Calgary

RENX  Commercial  •  Industrial, Retail, Technology  •  Calgary

UPDATED WITH QUOTES: Retail giant Walmart Canada is continuing to expand its nationwide distribution footprint with a new $118 million, 430,000-square-foot fulfillment centre to open in September near Calgary.

Anthem, KingSett plan seven Burnaby buildings

Residential, Commercial  •  Globe Newswire  •  RENX  •  RENX

Anthem and KingSett Capital have acquired an 8.34-acre site in Burnaby’s Brentwood Town Centre and plan a four-phased community with 2,440 residential units and 60,000 square feet of retail and office space across five residential towers and two woodframe mid-rise rental buildings.

Edmonton approves EVER’s four-building CRE complex

Commercial  •  CBC  •  CTV

Edmonton city council has approved rezoning for EVER Real Estate Developments‘ south-side commercial complex. The EVER Square development will include five retail, professional, financial services and medical buildings, ranging from four to 10 storeys.

Shindico plans 3.5M-sq.-ft. Wpg. mixed-use

Residential, Commercial  •  Winnipeg Free Press

Winnipeg developer Shindico Realty Inc., aims to begin work by next spring on the Shops of Kildonan Mile, a project featuring over 500,000 square feet of luxury apartments and over three million square feet of retail space.

First Capital proposes two residential buildings

Residential  •  Urban Toronto  •  RENX

First Capital REIT has proposed two residential buildings and townhomes at 3434 Lawrence Ave. E. in Scarborough’s Woburn Community. The BDP Quadrangle-led proposal would include 642 residential units with four distinct building elements ranging in height from eight to 29 storeys.

The Saskatchewan Edge › Required steps to valuing development lands

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

CPR work stoppage prompts supply-chain fears

Commercial  •  Globe and Mail (Sub. required)  •  Globe and Mail  •  Toronto Star

Canadian businesses and industry experts are urging Ottawa to intervene in a nationwide work stoppage at Canadian Pacific Railway (CP-T) that is posing a threat to food inflation, supply chains and the country’s reputation as a reliable agricultural partner.

Montreal Metro’s Blue line extension finally a go

Commercial  •  CBC  •  Globe and Mail (Sub. required)

After being discussed for decades, the Montreal Metro’s Blue line extension is finally on its way to realization, the Quebec government announced Friday. The estimated price tag of $4.5 billion is now set to cost $6.4 billion.

Downtown Montreal looks to retail revival

Commercial  •  Retail Insider

Chamber of Commerce of Metropolitan Montreal president/CEO Michel Leblanc said the recent lifting of the recommendation for compulsory teleworking will trigger the gradual return of downtown workers to hybrid mode. “This is good news, especially for merchants in the sector.”

Inflation pushes more Canadians to discount stores

Commercial  •  Retail Insider

Paul Wood, president and CEO of Giant Tiger Stores Limited, said the discount sector has experienced growth over recent years as inflation has led customers to shift from the middle of the market either to discount or luxury.

REOC financial results/business updates

Residential, Commercial  • 

Chartwell Retirement Residences, (CSH-UN-T), Canada Newswire
Melcor Developments Ltd., (MRD-T), Globe Newswire

CPP $214.3M JV to develop South Korean data centre

Commercial  •  Canada Newswire  •  IPE Real Assets

CPP Investments and Pacific Asset Management Co. today announced a $214.3 million Cdn joint venture to develop the largest carrier-neutral hyperscale data centre, Jukjeon Data Centre, in South Korea. The centre will have a gross floor area of 1,066,380 square feet.

Brookfield to acquire La Trobe for $1.38B

Commercial  •  Globe Newswire

Brookfield Business Partners L.P. (BBU-UN-T) and Brookfield Business Corporation (BBUC-T) together with institutional partners announced an agreement to acquire La Trobe Financial, a leading Australian non-bank lender and asset manager, for approximately $1.38 billion Cdn.

Brookfield offering new office incentive: Free apt. rents

Residential, Commercial  •  Bisnow  •  Bisnow

Brookfield Properties is using a new tactic to boost occupancy at its office properties in Downtown Los Angeles: Lease office space and your employees get a free month’s rent at a Brookfield apartment nearby.

Trading in Evergrande shares, some bonds suspended

Residential, Commercial  •  Globe and Mail (Sub. required)  •  ECNS  •  Financial Post

Shares of embattled property developer China Evergrande Group and onshore bonds issued by its flagship unit Hengda Real Estate Group were suspended from trading on Monday, pending an announcement by the company. The filings gave no further details.

Burnaby pushes forward with rental housing goals

Residential  •  Globe and Mail (Sub. required)

Burnaby’s highly ambitious plan to build thousands of new rental housing units with a chunk of them designated as affordable is slow going, cautions Mayor Mike Hurley. Four Burnaby neighbourhoods were long ago zoned for high-density development.

Vancouver, Victoria rents jump 20 per cent in 6 months

Residential  •  CBC

Canadians migrating from other provinces have resulted in average rents paid by tenants in Vancouver and Victoria increasing by more than 20 per cent in the past six months, according to the newly released National Rental Ranking.

Some Torontonians seek second homes downtown

Residential  •  Toronto Star

As some employers in the Toronto core are calling staff back to the office — at least a couple of days a week — some employees who moved to the suburbs are now trying to find a second place in the city.

Home-buying intentions return to pre-pandemic levels: RBC

Residential  •  Canada Newswire

According to the annual RBC Home Ownership Poll, purchase intent is now back to what it was in January 2020 with 23% of respondents saying they are likely to purchase a home in the next two years, compared to 30% in 2021 and 22% in 2020.